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11. Economy of the USA.

12. What is economics?

13. Factors of production. Темы к контрольной работе №2

Economy of the USA

The United States of America is one of the largest countries in the world. It has a developed free enterprise economy. It means that people are able to own capital and property and to run their own businesses for making profit. Most economic decisions in the country are made in the marketplace. Nearly 90 per cent of the goods and services produced in the country each year come from privately owned companies and firms.

Despite the fact that the United States has a free enter price system; government's role in the economy is so important that economists describe it as a mixed economy. It is an economic system that combines elements of public ownership of the means of production with private ownership, and elements of free enterprise with government participation and control. The USA is a country with a highly developed economy. With only 5 per cent of the world's population and about 6 per cent of its land area the USA produces 25 per cent of the world's industrial products, agricultural goods, and services. It leads the capitalist world in industrial and agricultural production, leaving the other capitalist countries far behind The United States owes its high level of economic development to its great wealth of minerals and fertile farm soil , together with a moderate climate The territory is extremely rich in such minerals as coal, oil, natural gas, iron ore and non-ferrous metals. They provide a solid base for modem industry.

The country has very powerful industries, advanced technologies, and science. The structural composition of the US industry shows a marked predominance of heavy industry, namely mining, chemical, metallurgy, machine-building, nuclear power and aeromissile industries.

Electronic and electric engineering, transport, communication and machine-tool industries can be found almost in all large cities of the USA.

Comments

1. free enterprise economy — экономика которая базируется на свободном предпринимательстве

2. to own — обладать

3. to run a business — вести дело

4... for making profit — для получения прибыли

5. goods and services — товары и услуги

6. despite — несмотря на

7. mixed economy — смешанная экономика

8. public ownership — государственная собственность

9. means of production — способы производства

10. private ownership — частная собственность

11. to owe smth to — быть обязанным кому либо 12. fertile soil — плодородная почва

13. moderate climate — умеренный климат

14. iron ore—ЖЕЛЕЗНАЯ РУДА

15. non-ferrous metals — цветной металл

16. marked predominance — значительное преобладание

Agriculture is one of the most important sectors of the US economy. It accounts for about 3 per cent of the GNP. Farms are owned by the people who operate them and by business corporations Farming is largely mechanized and scientifically controlled. The dominant trend in American agriculture can be summarized in two words — increased productivity. Gross agricultural output has increased dramatically 50 years ago a farmer fed 10 people, at present the average farmer feeds 75. American agriculture produces more food products than any other capitalist country. Production of most crops substantially exceeds domestic needs. making the United States a leading exporter of food About a fifth of б the country's territory is arable The rainfall is not high, and irrigation is widely used there The principal crops grown in the country are- corn, wheat, soy-beans, sugar-cane and sugar beets, sunflower, tobacco, hay, rice, cotton, oats, and barley The United States harvests a lot of vegetables such as tomatoes, potatoes and onions Florida and California are famous for their fruit production. They grow oranges, lemons, tangerines and grapefruit Strawberries, pears and apples are also produced in large quantities.

Animal husbandry is also developed in the country Pastures occupy more than one-forth of the United States. The highlands in the West of the country are famous for their dairy and beet cattle breeding, pig raising, and sheep farming Dairying is well developed, and milk, cheese, and butter production exceed domestic needs. Wool production, leather

and textile industries are also developed there. Poultry-farming and vegetable growing are concentrated in the countryside near all the big cities.

Comments

1. GNP— ВНП (валовой национальный продукт)

2. farming — сельское хозяйство

3. increased productivity—рост продуктивности

4. gross agricultural output — выпуск валовой продукции сельского хозяйства

5. domestic needs — внутренние потребности

6. arable land — земля пригодная для возделывания

7. soy-beans — соя, бобы

8. sugar-cane — сахарный тростник

9. pasture — пастбище

10. wool production — производство шерсти

11. leather industry — кожная промышленность

12. countryside — сельская местность

What is Economics?

Studying economics for the first time, it is necessary to know what economics is all about. Unfortunately, it is not possible to define the subject by a single word. Economics was defined as the study of mankind in the everyday business life. This means that economics deals with production, distribution, exchange and consumption. It answers such questions as: How do we produce all the things we need? How are prices determined?

Economics is also concerned with unemployment, inflation, international trade, the interaction of business and labour, and the effects of government spending and taxes. Economics does not stop with the description of economic activity because description alone leaves unanswered many important why and: how questions. Economics is a social science like history, geography, politics, psychology and sociology. It is the study of human efforts to satisfy what seems like unlimited and competing wants through the careful use of relatively scarce resources. Economists study what is or tends to be and how it came to be. They do not in any way pretend to tell what ought to be. People must make up their own minds about that. Economics is therefore concerned with activities relating to wealth, i.e. production, consumption, exchange and distribution.

For our own purpose, we shall define economics as the study of man б in his attempts to gain a living by utilizing his limited resources.